Posted on November 10, 2014 by Corey Hart
Nov

10

2014

New contracts miss last year's mark by two percent, increase for non-distressed property contracts

OVERVIEW

The housing market trends in October in the Washington DC Metro Area were little changed from prior months.  The number of closed sales in the region fell 2.8 percent from the October 2013 level, but the decline was driven entirely by a decrease in distressed property sales.  Sales of distressed properties (foreclosures and short sales) have been decreasing since mid-2010 and declined 21.5 percent between October 2013 and October 2014.  Non-distressed sales in October were actually unchanged from last year.  New pending contracts also saw an overall decrease, but as with closed sales, the decline was largely the result of fewer contracts for distressed properties.  New contracts for distressed properties were 16.2 percent below the October 2013 level, while those for non-distressed homes increased by 1.4 percent. 

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The median sales price for the region increased 5.3 percent from October 2013 with gains in every jurisdiction.  Active listings continue to rise but are only 46.0 percent of their peak-level of 2007.  The median days-on-market increased, marking the ninth month of year-over-year increases.  But homes continue to sell more quickly than the five-year and 10-year October averages.

Posted on November 07, 2014 by Corey Hart
Nov

07

2014

New contract activity hits highest October-level in nine years; REO listings and sales growth continues

OVERVIEW

The Baltimore Metro Area housing market had its highest year-over-year increase in closed sales since last fall, increasing 13.1 percent.  Every jurisdiction in the region had more closed sales than in last October, with the largest increases in Baltimore City (+21.2 percent) and Carroll County (+21.1 percent).  New pending contracts for the region also increased from last year, rising 16.6 percent.  Bank-owned (REO) properties played a role in this growth as new contracts for REO listings more than doubled compared to last October. The median sales price for the region was virtually unchanged, rising only 0.3 percent, though pricing for non-distressed properties rose 4.3 percent. The number of active listings increased 20.9 percent, bringing inventory to 70.8 percent of its peak-level.  New listings contributed to these gains, rising 11.7 percent from last year.

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Posted on October 10, 2014 by Corey Hart
Oct

10

2014

Increase in closed sales led by detached homes; New pending sales up six percent

OVERVIEW

In September, both buyer and seller activity in the Baltimore Metro Area increased relative to 2013.  The number of closed sales and new pending contracts increased from this time last year and both reached multi-year September highs.  Nearly every jurisdiction in the region had more closed sales than in September 2013, with only those in Anne Arundel County decreasing, falling by 5.2 percent.  Inventory continues to rise with active listings reaching the highest total in nearly three years.  New September listings contributed to rising inventory and had a double-digit increase from last year.  The median price was virtually unchanged from last year, dropping only 0.1%, but was higher than the September-levels of 2009 through 2012.  The year-to-date median sales price is $244,000, unchanged from the same period in 2013.

Posted on October 10, 2014 by Corey Hart
Oct

10

2014

Median sales price increases less than one percent; Contracts and closed sales both exceed five-year September averages

OVERVIEW

The Washington DC Metro area housing market in September continued the trends seen throughout the year, with buyer activity lower than its year-ago levels and seller activity continuing to rise.  Closed sales decreased 2.2 percent from September 2013, but were higher than their 2010, 2011 and 2012 totals.  Year-to-date closed sales are 4.3 percent lower than in the same period in 2013, but 7.2 percent higher than in 2012 and 12.4 percent higher than in 2011.  In September, there were increases in closed sales in four jurisdictions: Falls Church City (+122.2 percent), Arlington County (+10.3 percent), Montgomery County (+1.5 percent), and Washington, DC (+0.7 percent). 

Posted on September 10, 2014 by Corey Hart
Sep

10

2014

Continued declines in contract activity and closed sales; No change in median sales price

OVERVIEW

Buyer activity in the Washington DC Metro area continued to be lackluster in August.  The number of closed sales decreased 9.3 percent from August 2013 and all property segments had fewer closed sales than last year.  Every jurisdiction in the region had declines in closed sales as compared to last year, which is the second time in 2014 for every jurisdiction to do so.  The largest decreases occurred in Fairfax City (-26.3 percent), Falls Church City (-25.0 percent), and Arlington County (-19.9 percent).  The number of new pending contracts also fell for all property segments and the total number declined by 6.0 percent from last August.  It should be noted, however, that both closed sales and pending sales continue to be above their 2010, 2011 and 2012 levels. The median sales price was unchanged from last August but both townhomes and condo properties had higher median sales prices than in August 2013.  The number of homes for sale continues to rise, but remains low.  Active listings reached their highest August-level in three years, but are only 43.1 percent of their peak-level.  New listings also rose from last year, marking the sixth consecutive month with year-over-year increases.

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